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. then is the looming fiscal cliff casting a shadow over shoppers and investors this holiday season? visions of bargains are dancing in the heads of consumers. will the possibility of higher attackses slow them down. we'll talk with matthew shay, president of the national retail federation and john sweeney of fidelity investments. the holiday is over for white house and congressional leaders trying to make a deal. we'll ask our sunday panel if they can reach a compromise. >>> a thanksgiving tradition, our power player of the week has me dancing with turkeys, all right now on "fox news sunday." >> chris: hello again from fox news in washington. on this holiday weekend we're watching several major foreign policy developments from egypt to gaza to the continuing converse over the benghazi attack. to talk about it all is senator john mccain. welcome back to "fox news sunday." >> thank you. dancing with turkeys? >> chris: you'll have to wait until the end of the show to see. >> that's what we're doing now. >> chris: let's start with egypt where president morsi granted himself unchecked powers and sent thousa
less conversation and more on the fiscal cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll see you here tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here tonight with bedford open geyser ceo harvey eisen and republicans who have put tax
of the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're referring to his trip this friday to pennsylvania. >> right. you've got to have presidential leadership to do big things. that's what we need right now. obviously republicans are here, ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his number one priority is jobs and the economy. we agree with that. but if your number o
mccain. it is a fox news sunday exclusive. >>> then, with the loom fiscal cliff, is it casting a shadow over shoppers and investors this holiday season? visions of bargains are dancing inned the of consumers but will the possibility of higher tax slow them down? we'll talk with matthew shay of the national retail federation and john sweeney of fidelity investments. plus the holiday is over and the white house and congressional leaders try to make a deal. we'll ask our sunday panel if negotiators can reach a compromise to avoid the fiscal cliff. and a thanksgiving tradition, our power player of the week has me dancing with turkeys. all, right now, on fox news sunday. ♪ >> chris: and, hello again, from fox news in washington. on this holiday weekend, we are watching several major foreign policy developments from egypt, to gaza. to the continuing controversy over the benghazi attacks. here to talk about it all is senator john mccain, and, senator, welcome back to fox news sunday. >> thank you, chris, dancing with turkeys? >> chris: you have to wait until the end of the show to s
>>> good morning. i'm chris jansing. two big showdowns today on capitol hill over the fiscal cliff and ambassador susan rice. both of these have been escalating, and on the fiscal cliff especially the clock is definitely ticking. let me give you a rundown of what's happening in the next couple hours. first, ambassador rice is meeting with two republican senators today. right now she's in with susan collins of maine. later she'll meet with bob corker. yesterday, too, she was on the hill defending herself over her comments following the benghazi attack, but the gop leaders only seemed more entrenched in their opposition. in addition, anytime now house democrats and house republicans will hold separate news conferences to talk about their closed-door meet ings on the fiscal cliff. at 11:30, president obama will make remarks at the white house surrounded by middle class americans who he says would see their taxes go up if congress can't make a deal. later he's hosting big business leaders to talk about ways to cut the deficit. joining me to talk about this, "washington post" political
to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost 1 million small businesses who employ 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference, right after the election, his number-1 priority will be jobs and the economy. we agree with that. but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a
of raising taxes in the face of the fiscal cliff. >>> courageous until the end. a former mayor in mexico who fearlessly stood up to the drug cartels found murdered. >>> and face-to-face behind closed doors today, u.n. ambassador susan rice takes on one of her sharpest critics, senator john mccain, over her actions after the benghazi attack. good morning and welcome to "early start," i'm deborah feyerick in for john berman. >> really nice to have you. >> i'm so glad to be here. >> i'm zoraida sambolin. it's 5:00 a.m. in the east. first, congress back to work, and back to bickering. in just under 35 days, america hits the fiscal cliff. that triggers severe spending cuts and tax hikes. several top republicans are now defying party politics and signaling a willingness to consider increasing tax revenues to get a budget deal done. but when the lame duck senate got back in session yesterday it sure sounded like the same old broken record. >> the senate has spoken. president obama has spoken. he's promising he will not sign any bill that mortgages our future to pay for handouts to the wealthiest 2%
away from the fiscal cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash spending. >> i can cut $600 billion more out of the federal government tomorrow. nobody would know a difference except for the people employed by the programs here in washington, d.c. >> when asked by fox what he would be willing to cut, the senate majority leader didn't offer anything new. >> remember, we have already done more than $1 billion worth of cuts. we have done that. so we need to get some credit for that. and the negotiations that take place. >> 42 business organizations sent this letter to top lawmakers urging congress not to increase taxes writing, "we strongly urge
guess who. you, and of course the rest of us. we're all on the edge of this fiscal cliff. >> we don't think that raising tax rates is something that's good for this economy, that will help grow jobs. and so what we have said is there are ways for the federal government to have more revenue if we grow this economy and engage in tax reforms. >> every economist i respect says if you raise tax rates at this time -- in fact the president said that a couple years ago -- that it harms the economy. we're trying to help the economy. and so unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and grounds for my position. >> the truth is this country does not need to go through this fiscal cliff, which is fundamentally a huge tax increase and very little spending cuts. we're favoring a huge automatic tax increase that needs to be changed. >> bottom line we can't go off the fiscal cliff. democrats have harry reid. we have mitch mcconnell. get them in the room. no one gets all they want. if reagan and o'neill could do it, obama and boehner sh
are triggered by the fiscal cliff. democrats and republicans appear stuck on entitlement reforms. democrats don't want deep cuts to programs like medicaid, medicare, social security. some republicans say it's the only way to get a deal. >> the reason we're having these negotiations is because washington democrats have spent money without any care for the cost or the future. and refuse to do anything to protect long-term spending programs like medicare, a failure that's among the biggest single drivers of our debt. >> one out of three people in this country are going to rely on medicare and head cade for their health insurance. so we need to find ways to preserve these programs. >> senator durbin says the debate over entitlement programs should be fought after the new year. he's going to join us in a few minutes to talk about it. >>> police on new york's long island investigating a deadly bus crash, a 6-year-old boy was killed last night when the driver of that bus lost control and went barreling into the front bedroom of the boy's home. police say the bus driver swerved to avoid hitting a pedes
republican colleagues. >> a growing group of liberal fiscal cliff jumpers if you will as they're being called, they seem to be willing to risk everything, jump off the cliff if social safety nets face deep cuts while tax rates stay low for the wealthy. do you think that is smart politics or could it backfire against democrats? >> i think what the president has said is the right approach to take which is that we want to do everything we can to avoid the fiscal cliff consistent with what he said during the campaign which is that, number one, we have to focus on jobs and the jobs plan and, number two, we have to ask higher income individuals to start paying a little bit more to reduce the debt because if you don't, simple math tells you you will hit everybody else harder. the president's priority has been to protect the middle class and do that by asking higher income earners to pay a little bit more. so i think the president has been clear. he has set forward a plan to prevent us from going over the fiscal cliff and the choice republicans have is are they going to continue to insist on saying t
. >> in the scramble to avoid the fiscal cliff, both the president's plan to raise taxes on the wealthy and the republican willingness for revenues could end up hurting charities and rely on the kindness of people with money. >> high income people tend to give very generous gifts. they may give a million dollar contribution to a capital campaign of a local hospital or a local art museum and a small number of donors at the high end that account for really big chunk of the charitable giving in this country and those are the folks that we'd be most impacted by this tax policy change. >> in fact, united way gives 15% of total donations, 500 million dollars a year, from those who give $10,000 or more. so, charities worry that any kind of tax increase on the wealthy could cut into their donations and that money from the wealthy would go to the government in taxes, instead of the charities as donations. >> yes, they aren't taxed on that income, then they're able to give all of that income to charities and nonprofits, back to their communities. >> after all, people have to pay their mortgages a
for the middle class. tonight chris van hollen and jan schakowsky on the latest on the fiscal cliff. >>> the meeting with the president looks good for progressives. we'll get the scoop from james hoffa. >>> plus, breaking news. republicans running the benghazi witch hunt remain disturbed and troubles. >> i'm more disturbed and significantly troubled. >> i'm more troubled. >> joan walsh on today's big meeting with susan rice. >>> and yesterday ricks rolled fox news. >> i think that the emphasis on benghazi has been extremely political because fox was operating as a wing of the republican party. >> today fox news strikes back. >>> good to have you with us tonight, folks. thanks for watching. the white house is keeping republicans in a box. president obama is hitting the road to push the extension of tax cuts for income, for folks under $250,000 a year. the president will kick off his tour in southeastern pennsylvania on friday. today he met with small business owners at the white house and tomorrow he plans to meet with a group of middle-class families. republicans will be countering
people here in washington are calling the fiscal cliff. today, we have new proof that people across the country not only are aware of what's going on, they're very, very worried. our new poll shows 68% say the country will face either a crisis or major problems if the cuts in taxes aren't avoided. and a whopping 77% say their personal financial situation will be affected by a failure to solve the fiscal cliff problem. despite this nationwide sense of urgency, there's only a little talk of compromise right now as lawmakers return to washington. our congressional correspondent, kate bolduan, has been working her sources on capitol hill and what's going on. stakes are enormous right now. what's going on? >> they were away for a week. staff was supposed to be working. but lawmakers are arriving back in town with no real whisper of an imminent breakthrough at the moment to avoid this looming series of tax increases and spending cuts that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments
that could exist between europe and the u.s.? it seems like the u.s. has to deal with the fiscal cliff and there is not much room for mutual influence. if you don't have your house in order, you cannot speak to our problems. this does not covered in our media very much. >> thank you. let's go to illinois. we have the votes from the judges. >> can you guys hear me? what can parliament do to encourage [indiscernible] >> thank you. we will go right to the answers. >> you the unemployment, i spent a long time in entering what could we do to regain trust and growth. i made a proposal, and i repeat it. the european union, together with the states in which the youth unemployment is so crop -- so great, we should support those enterprises who employ young people with direct support financially for the enterprise, or with privilege and taxes. those are the two possibilities, but we should do it. the fight against unemployment, in my eyes, is the highest priority for the european union, or must be the highest priority for the european union. the international labor organization spoke about the l
-- can we avoid the fiscal cliff. can we get ourselves back on the right track, if you will, without raising taxes -- without getting rid of the bush tax cuts for the wealthy? >> i think -- it doesn't add up. you get about $750 billion from loopholes. that doesn't get you near -- >> bill: bill clinton said in charlotte, it is arithmetic. >> it's math. >> bill: right. you mentioned -- i want to come back -- the other thing the republicans have put on the table, of course, is entitlement. they will only consider new revenue if democrats come forth with entitlement reform. by entitlement reform, let's be honest. they mean getting rid of medicare, getting rid of medicaid. >> structural reforms. >> bill: and privatizing social security. >> it was good to hear yesterday jay carney the white house press secretary, i don't know if you were there. taking social security off the table. it's not a problem. it hasn't contributed to the deficit. that's off the table. they're open to medicare. they've been open to changing pr
in washington. the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senato
of the so called "fiscal cliff" negotiations. today we are focusing on the bush-era income taxes. we're having a roundtable discussion in our last hour from a democratic and republican perspective on that. so stay with us. madeleine in thousand oaks, california, republican. caller: i am the wye fire the teacher. i feel i am an independent republican. -- i am the wife of a teacher. in california we feel we have too many administrators. the teachers need time to get further education and that should be demanded. there are teachers who should not be there. but there are parents who are very aggressive who come to school and have come on the playground and have hit the teachers. the teachers have insurance if something happens. one student came to school with her mother is underpants. it's not only the military that get tempted, but teachers get tempted also. host: we have a line set aside for educators this morning. we want to hear from them as well as we continue this discussion on how you would fix your school system. yesterday in washington recovered an event with florida governor je
from the desk with the couch. >> shepard: this is the fox report. avoiding the fiscal cliff. now the president and house republicans plan to hit the trail in search for support for their competing plans. plus, the u.s. ambassador, susan rice, meets with some of her toughest critics. and apparently they don't like what she has to say. >> we are significantly troubled by many of the answers that we got and some we didn't get. more disturbed now than i was before. >> shepard: republican senators criticizing ambassador rice for her initial comments on the libya consulate attack. >> ambassador rice has no responsibility for collecting, analyzing and providing intelligence. >> shepard: tonight the ambassador responds. >>> plus, the people of egypt trying to avoid trading one dictator for another. fighting back against a president who gave himself new powers. tonight a potential crisis point as the leader tries to put himself above the law. and how will the u.s. handle this? >>> plus, the chances of winning are ridiculously low. but millions of us are still lining up for a shot at a rec
this morning. congress is back in session, and just in time, we are now 35 days away from the fiscal cliff. >> a big day in the middle east. today both israel and gaza meet to further the cease-fire between the two embattled nations. we're going to have a live report coming up for you. >> gray thursday, black friday, and now cyber monday. but just how good are the deals today, compared to what was put out this past holiday weekend? we're going to break it all down for you. >> did you do any shopping? >> absolutely not. there's too much football. >> don't you love it? >> good morning. welcome to "early start," i'm john berman. >> and i'm zoraida sambolin. 5:00 a.m. in the east. so let's get started. they are back. our lame duck congress returning to capitol hill today. the senate in session this afternoon. the house back tomorrow. and with 35 days left, as john just reminded us, before we plunge down the fiscal cliff, two prominent republican senators, lindsey graham and saxby chambliss are signaling they are willing to give a break the no tax pledge. that is a hopeful sign, folks, because
investors no favors real acquainting them instead with the scary parts of the fiscal cliff story. the federal reserve chairman spooking investors saying that the bank would not have infinite ability to address the fallout from the failure to avoid going over the so-called fiscal cliff. the dow jones industrial today losing seven points, s&p, nasdaq up fractionally. president obama returned to the white house after a three day trip to -- through southeast asia with stops in cambodia, thailand, and burma. the president takes part in a yearly presidential tradition. the parting of the national thanksgiving turkey in the rose garden. the prime minister of israel reiterating tonight that the cease-fire deal has been reached he told reporters that israel will take whatever action is necessary to defend its people but stated a diplomatic resolution would be preferred. joining as, fox is national-security analyst, former ambassador to the united nations. let me turn to you first. is it your sense that a deal has been reached between hamas and israel? >> because israel has accomplished th
-on-year, that is pretty good. >> what fiscal cliff, right now we're up by 12% from our 12 month low. in terms of a month long average that is pretty good, investors are not as frightened as they were some days ago regarding possibility of higher taxes, for capital gains and dividend. lou: they are still in prospect, all of it is. we have folks introducing bills to defer the whole thing for a year now. and the president is making nice, he is talking with ceos, seeming leally almost every othr day. >> market thinks we have a kinder and gently barack obama, who knows that might be correct. but who knows, business sales show no signs of improving sig 1/2 cannily, we'll issue watching what happens this week into start of the holiday shopping scene very closely. lou: at what point do we just acknowledge we're sort of you know bumbling along, economically, that the markets are outperforming the economy. and if we look at this right now, there is a project here that from index of leading economic an kate or to market's behavior that says we have good things in store here 6 months down the road. >> equity can li
you. congress and the president have just 40 days to avoid the so- called fiscal cliff. when the ball drops on new year's eve, tax hikes and severe spending cuts will kick in automatically unless a deal is reached. wyatt andrews spoke with two men who say they know how it should be done, if only washington would listen. >> reporter: two years ago, the fiscal commission chaired by democrat erskine bowles and former republican senator alan simpson proposed every basic element of the fiscal cliff solution being discussed now. their plan was a mixture of higher taxes, lower spending and the reform of medicare and social security. both men told us sacrifice has to come from everyone. >> all of us have to have some skin in the game to get it done. >> if you want something, pay for it. it's a sick idea, but it is an interesting idea. >> reporter: their biggest idea was to increase revenue by combining both the president's demand for higher taxes on the rich and the republican proposal to get rid of tax loopholes. bowles/simpson would eliminate almost every tax deduction for individuals and c
have a fiscal curve/cliff/mole hill, however you choose to describe it, that includes, of course, the bush tax cuts, but also, the bigger piece is sequestration and the payroll tax cut again. another fight the president has had before. what do you make of his focus only on the bush tax cuts and specifically the middle income earners. >> this was a theme throughout the campaign, something he came out early on and hit hard on. it underscores this larger issue about inequality in this country which is an economic problem. you can't have a sustained recovery when 98% of the population hasn't gotten a raise in the last few years or decades depending on who they are. i think people are starting to focus on that. i think this issue of taxes is crucial of that. i think if we're going to go to the other cuts that need to happen, the entitlement reform you need to have a sense from the population that the rich are doing their part, that there is a sort of social cohesion. you can look to europe and see what happens when you don't have that. >> the president spoke in his comments effectivel
at a situation where the country is about to go off the so-called fiscal cliff, and i wanted you to kind of look back and think did you ever believe that people -- that congress would get so entrenched in different sides that there was a possibility the country would go off the fiscal cliff? does it surprise you where we are? >> i mean, what shocks me is that we're actually $16 trillion in debt. i mean, we built up this incredible debt over a period of years. i never would have guessed that we would be in this position when we started out. >> you are all here for that? >> we're all guilty. we're all part of it. a couple of presidents contributed to. am i surprised we facing this fiscal cliff now? no, because we put it in. we created this cliff because we thought it will be so terrifying that congress would actually be shaken to reach a bipartisan agreement to reduce the debt. that's what our responsibility is and the time between now and the end of this year. >> i think congress is reflecting the nation. i think we are very divided. not in the goal, but how we get there, and i think america is t
leader summit last week says that the looming fiscal cliff is already impacting his business. >> right now i'm not that bullish at all. in fact i'd say there's a great uncertainly that's just hanging over the entire economy because we're not confident that our guys can govern anymore. people like me just aren't hiring because we're not confident they can do it. >> well, the white house echoed that concern this morning. a new report says failing to act on the president's plan for middle class americans would freeze the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services
." >>> president obama ramps up the sales pitch on his fiscal cliff picks. will public pressure push republicans into a deal. one leading house republican who happens to be a former pollster takes a very vocal position on what he thinks his party needs to do and to do now. >>> u.n. ambassador susan rice's attempt to smooth things over doesn't go over as well as she or the white house would have liked. guess who stepped out to vouch for her. none other than a retiring amigo, senator joe lieberman. >>> and new numbers on a hypothetical matchup for 2013 that would be sure to get some votes. what would happen if cory booker took on chris christie. that's not the only big 2013 news this morning on the campaign front. good morning from washington. it's wednesday, november 28, 2012. this is "the daily rundown." i'm chuck todd. right to my first read of the morning. so is washington just running out the clock until about ten days before christmas when everyone smells the jet fuel and gets ready to cut a deal to avoid the so-called fiscal cliff? some days it feels that way. the president is stepping up h
approach on the fiscal cliff, saying the elect is over. it's time to stop campaigning and start talk. some republicans are telling the president, show us your hand. martha: not over the cliff yet but perhaps headed there. good morning. i'm martha maccallum. the minority leader mitch mcconnell called the president out for what he says is a campaign-style blitz instead of negotiations between both sides. >> rather than sitting down with lawmakers and working out an agreement he's back on the campaign trail. we are not going to solve this problem by creating villians and drumming up outrage. >> he will be out trying to i'm sure zero in on those states represented by members of the house and the senate to try to get public support. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be w
with the fiscal cliff. i want to go to your call for a special prosecutor. on benghazi, but, going to the fiscal cliff, the speaker making it very clear, that he's going to approach the negotiation of the white house, on the cliff, positively with some sense at least of accommodation, potential accommodation, if his terms are met. that is positive stuff, don't you think? >> well, it is positive. but, there's a lot of pressure, right now, and, of course, pressure is what you can use to take care bonn and make diamonds. this is the time to be bold. this is not the time to be defensive and i'm glad the speaker has come forward with a proposal but, the thing is, we ought to be taking the president's words and sticking them back with him. he wants everybody to pay their fair share. let's do it. let's have capital gains, 15%. let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in perc
. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for american progress where he said this about the possibility of going off the cliff which fears of this show know is is really more of a curb than a cliff. >> some have called let's go over the cliff and watch what happens. we know if we're not careful, it will in fact stop economic growth and hurt everyone through every income category, particularly those most vulnerable. >> what he did not say is he must not go off the cliff. because the cliff is is pre
right now. tonight as the fiscal cliff drama unfolds on capitol hill, we'll take a step back and look at how we got to this point. namely, how do we become a nation buried under more than $16 trillion debt, why crippling defense cuts, and the largest tax increase will take hold in 35 days because your elected officials don't know how to stop spending money. let me first play a small part of one of the most memorable inaugural addresses of all time. >> my fellow americans, ask not what your country can do for you, ask what you can do for your country. >> sean: sadly five decades removed from that iconic speech, the democratic party, its leaders, and countless other americans, rely on government for too many things. instead of asking what they can do for their country, they're asking what their country can do for them. now the debt record is at record levels, tax rates are soaring, because nowadays handouts have taken the place of hard work. a liberal notion has permeated our society one that now says the federal government, it's their job to find you a job. it's the so-called rich that
the fiscal cliff? >> everybody agrees. >> going over the fiscal cliff will hurt our economy and will hurt job creation in our country. >>er -- every family in america will see their taxes automatically go up at the beginning of next year. >> shepard: so how to avoid that. >> the president and congress will either fail together or we will succeed together. >> there has to be a deal. there has to be an agreement. >> and if they can't come up with a compromise, we are all going to pay the price. plus, they are some of the biggest names in baseball. bonds, clemens, sosa. all three tainted by accusations they used performance enhancing drugs. but should that keep them from cooper's town? tonight, the great debate over baseball's hall of fame ballot but first from fox this wednesday night, the president hopes who have the framework of a deal to avoid the so-called fiscal cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make
. congressional leaders are hoping to hammer out a deal to avoid the fiscal cliff. it is clear that the lawmakers are strug struggling to find a common ground. but some are saying there is a compromise. >> the stock market rallied amidst the talk of a possible deal being made. but independent senator joe lieberman is saying there is no done deal. he says, if congress does nothing, which they have gotten pretty good at, we will go over the fiscal cliff. the republicans have conceded that the government needs to find new ways to take in more money and now the fight is centered on where to get it from. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come from an increase on the tax ra
busy over the weekend. talking about the fiscal cliff. everyone comes back to work . wonder if they will get to work and cut the deals. republicans made it clear they are willing to budge when it comes to the 20 year pledge not to raise taxes that glover norquist had everyone sign before they took office. >> steve: grover norquist has hundreds of republicans to do that. clearly with the fiscal cliff comment and automatic spending cuts and taxes go up on everybody. something has to be done. the feeling is that it will happen two now. republicans have beenadament and said we can't raise taxes on anybody. and glover norquist said as long as you don't raise tax rates that is okay. and lindsay graham on that. >> i agree we shouldn't raise rates but i think grover is wrong to cap and buy down debt. what do you do with the money and i will violate the pledge for the good of the country only if the democrats do entitlement reform. >> gretchen: i think the pledge thing is good and bad. if you are a republican and believe that raising taxes is the wrong they think that and fine. but h
to avert the so-called fiscal cliff, those are the tax increases and spending cuts that will take effect next year. republicans and democrats continue to squabble over raising taxes and sparing entitlement programs like medicare and medicaid. today the president discusses the issues with leaders of major corporations. he met with small business leaders yesterday. susan mcginnis is in washington. >> reporter: while the two sides remain deadlocked president obama is taking his case to the american people trying to drum up support. republicans are complaining that instead of being out campaigning he needs to sit down with them and work out a deal. it's a short drive up pennsylvania avenue from the capital to the white house but congressional republicans and president obama are getting farther apart in their effort to keep the nation from veering off the so-called fiscal cliff. a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side is having difficulty turning off the campaign. >> reporter: the white house says the campaign
in that cabinet meeting. he says they're going to talk about hurricane sandy, the fiscal cliff, some national security issues. but to your question, we already know that secretary of state clinton plans to depart treasury secretary geithner and even defense secretary leon panetta has made it clear he would like to leave within the year. the current white house chief of staff still considered the odds on favorite to get the nod to become the next treasury secretary from the president. it's believed he has the greatest chance here it's believed of getting senate confirmation. that leaves open the job of white house chief of staff. and i'm hearing that among the names that are being considered for that role are ron clay, the man once biden's chief of staff and did himself i'm told a great service in president obama's debate prep despite that bad first debate the president takes responsibility for it, does not blame mr. clain. and another name i've heard floated is dennis mcdunna. earned the great respect and admiration of the president. a young man not often considered in that light but the pres
-called fiscal cliff. let's listen in. >> it would be good for our children's future and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but the place where we already have, in theory at least, complete agreement, right now, is on middle class taxes. and as i've said before, we've got two choices. if congress does nothing, every family in america ll see their tacks automatically go up at the beginning of next year. starting january 1st, every family in america will see their taxes go up. a typical middle class family of four would see its income taxes go up by $2200. $2200 out of people's pockets. that means less money for buying grocery, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle class families just can't afford that right now. by the way, businesses can't afford it either. yesterday i sat down with some small business owners who stressed this point. economists predict that if taxes go up on
and donate it to the fiscal cliff, and she will be here to tell us about it. palestinian leaders headed to the united nations for the landmark vote. should palestinians get statehood? how would that work? what could it mean for peace in the middle east? and the biggest names in all of baseball on the ballot for the hall of fame including three players suspected of having used performance enhancing drugs. what to do in the time of sports, what to do with steroids? that is all ahead unless breaking news changes everything. >> first from fox at 3:00 in new york city the fight over the so-called fiscal cliff has gone from negotiations to playing out in public. today the president laid out the plan to step the looming tax hike in a public push that seemed like a campaign event. president obama meeting with a group of what he described as middle class americans, and repeated the argument for raising taxes on families earning more than $250,000, a plan which republicans so far reject. the president said the re-election shows a majority of americans support his approach. >> not just democrats b
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